I don't know how the money factor was so low. I told him that I had a dealer in NJ for 589.00 per month with same out of pocket (for a non-NAV). I guess he just wanted to get the deal done. It was with a very reputable dealer on Long Island. Regarding the SUV, I sat in it and my right arm fell off the armrest. I know it may sound like a small thing but in a truck that costs $43K the armrest should be wide enough to not have this happen to a driver who is 6 feet tall and 220lbs. Stupid as it sounds, I got in the truck several times and made sure that I was centered in the seat and each time, my arm fell off toward the middle of the car. After that, I did not want it. Hopefully, I will be picking up the car on Thursday or Friday. I really can't wait and am much more excited than I was for my 2004 Acura TL (that was totalled while parked last Thursday night thanks to some idiot) :shades:

Newkid, sorry about what happened to your TL. Talk about freak accidents! I agree with you about that silly armrest on the RX SUV. I also am interested in that vehicle from Lexus. What's with that style of armrest anyway? Those are usually found on minivans, not SUV's. I wish Lexus would just redesign the center console higher up to also be used as an armrest instead of that hideous armrest connected to the seat. I think the GX SUV has this also.

Lexus, if any of you are listening, get rid of those silly armrests!!!

I just used Excel software to create a spreadsheet that calculates the entire formula for me. I put in several scenarios and printed them out. That way I am not fumbling with my calculator and trying to keep up with all the numbers they throw at me.

What is the money factor (Excellent credit) and can that vary by dealer and region?What additional fees should I be expected to pay and which can I negotiate out? Is doc. fee and acquisition fee the same thing?Can I pay the taxes and additional fees up front instead of putting them in my lease payment? Not sure I will want to do that, just asking? Is this not a good idea? I'd like to keep payment down. I got a quote of$1000 off sticker price of $44,044. They've had one UL at my dealership since they introduced the ES.Based on my lease calculations thru Edmunds I come up with a payment of about $676 including the tax. Money factor of .00255Residual of 60%No extra money down

This seems rather low compared to others. Am I figuring something incorrectly?

I recently posted my deal with my money factor of .00161 which is accurate. however, the dealer used Toyota Motor Credit Corporation, not LFS. Good idea to get the payments down. I have read in here that he LFS money factor is .00225.(5.4% as opposed to my 3.864%)

I came up with a monthly payment of $691.43. I did it for 36 months (you did not specify) and calculated the tax in my state (CA) which is .0825. Not sure what state you are in. I did it first on a calculator and then on my spreadsheet to double check my work.

So when are you going to make your move? Seems like you and I are one of the few left that have not purchased yet.

If Newkid and I are thinking of the same thing, the armrest on the RX is attached to the seatback. For instance, if you're in the driver's seat, it's attached to the side of your seatback on your right. It can also be raised up, which helps somewhat, but I'm used to having the center consoles in my cars high up enough that I can rest my elbow on that, particularly on longer trips. The RX center console doesn't sit up high, it only slides backwards and forwards. That's how the mini-van picture comes to my mind because I believe mini-vans have these armrests; if not on the front seats, in the back seats if they have captain's chairs.

By the way, the lease support for the RX350 seems to be very aggressive here in the Tampa Bay Area.

Cablondeblue,Yes, Ruby/Cashmere-personally I just think that color is awesome on this car. Never have I seen another color like it. Anyway, yes I did calculate at 36 months, 15,000 miles and our sales tax is 6% in Kentucky. I too am in real estate and feel I really need the extra miles. I plan on getting the car as soon as they locate one, they say the lates would be mid August, but might be able to redirect one here in the next couple of weeks. Hmmm... thought they weren't making this color anymore in the UL. Found out they just aren't making it right NOW in that color and several others. Very confusing. Who to believe?I plan to bring in my calculations when I do lease so that they don't add anything onto my payment. Never did hear from anybody - What fees, etc. should I not pay??

Not too sure about the fees. I am quoting from Edmunds.com....."Most leases require about $1,000 in "drive-off fees." Some of this money is loan initiation, some of it is security deposit and some goes toward the down payment." (If you choose to put money down.)

In researching a little further, there may be an Acquisition fee of approximately 500.00 and then Title and Registration fees.

Just make sure they don't tack on a conversation fee or some BS like that.

Welcome newkid300. This car's lease payment will depend upon what sort of discount you are able to negotiate. The ES 350 has been selling very well lately, but I am not sure what sort of discount dealers are providing on it in your area. The good news for you is that there is likely a ton of Lexus dealers in the New York metropolitan area. You should be able to get an idea of how much you will have to pay for this car by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience". Once you have an approximate selling price and I can estimate what this car's lease payment will be for you. By the way, the money factor and residual that you mentioned look about right to me.

Congratulations on your new car, newkid300. While a $700 discount is not huge, I am not surprised that is all you were given, given how well the ES 350 is selling right now. You can always stop by the following discussion to compare the price that you paid for this car to what others have paid for one recently: "Lexus ES 350: Prices Paid & Buying Experience". The money factor that you were given is certainly attractive. Is it through Lexus Financial Services? I didn't think that Lexus was providing any sort of money factor support on the '07 ES 350 right now.

Hi SammyS. The money factor that you were quoted for this car is correct for a 36 month lease of it through Lexus Financial Services right now. The selling price that you were offered looks reasonable as well. You are being given a discount of nearly $2,000 on a car that is selling very well right now. So the two main profit centers for dealers look good to me.

Hi robynl. According to the latest information that I have seen, Lexus is not currently provising any sort of lease support on the 2007 ES 350. This would make sense, given how well it has been selling lately. If this is the case and you were to lease this car through Lexus Financial Services right now, you would have to use its standard lease money factor. This factor varies a little depending upon what part of the country one is in, but it should be around .00255 for consumers who qualify for LFS' top credit tier. As far as what fees you should pay go, at lease signing you will be asked to pay your car's first month's payment, LFS' $600 acquisition fee, and any required state taxes or fees. Most banks require consumers to pay a security deposit at lease signing as well, but Lexus Financial Services waives its security deposit requirement for all consumers who qualify for its top two credit tiers. Doc fees and acquisition fees are not the same thing. Acquisition fees are charged by banks that lease vehicles and individual dealers do not have the ability to waive them. Doc fees on the other hand are essentially a way for dealers to pad their profits.

I just double checked the payment that you calculated, and according to my calculations if you were to lease a 2007 Lexus ES 360 with an MSRP of $44,044 and a selling price of $43,044 through LFS right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $639.

You're very welcome, Robyn. Vehicles' residual values are always based upon a percentage of their full MSRPs, including the destination charge. The residual value for this particular lease would be 58% of $44,044, or $25,546. This may be where you made your mistake.

QUESTIONS?1. What money factor are they using?2. Seems to me that instead of them charging me the depreciation over 36 months they are dividing the Residual value over 36 months and charging me that way. That's incorrect according to what I've learned on this forum. Am I wrong?3. What is the rent charge of $8054? Is this the money factor payment portion over 36 months? If so, way, way too high - $223/month. Forget it. I calculate about $176.

HELP! I am speaking to the sales manager tomorrow and want to know what I am talking about!!! Aren't they trying to trick me into paying the residual value over 36 months and then tacking on the money factor payment over 36 months which is way too high anyway!!

I would appreciate some feedback ASAP from anyone who can help me to know If I have this right?

I think I goofed. I think they are charging some exorbetent amount for a money factor. They have added the Depreciation charge $17914 which is correct and then added the rent charge which is where they are screwing me by over $50/month if the money factor is supposed to be .00255. Can somebody figure what MF they are using????????????

Yes, that's what I just figured. That's ridiculous!! Isn't the residual more orless set by LFS and what do I say to the sales manager regarding this? I want to sound knowledgable and not be taken advantage of. Money factor cant vary that much!!

I just got back from the dealership and have finally ordered an ES350. We negotiated for about two hours and I have a deal in writing but have not officially signed off on anything yet. They are ordering the car and it may take 2 to 4 weeks for delivery. (I thought I was all prepared but then when you get in there, after awhile, your head starts spinning.) I need your opinions if this is a good deal or not.

UL Package with Mark Levinson Surround Package, DVD Navigation and Park Assist36 month lease15,000 milesMSRP - 44,286.00 Price - 40,163.00Cash down - 2,800 (1000 is drive off fees and 1800 buy down. I know some of you frown on putting money down but I rather have a lower monthly payment. They said 1000 buys down approximately 25.00 per month.)Total Monthly Payment - 600.79

Note: The residual when down to 58% from when I received a quote a month ago from another dealer. After the salesman gave me his first quote today, I showed him that quote and he seemed to have turned pale. He knew he had to match it and went down $138.00 in the payment in one shot. So I feel like that was that was a good move on my part.

Oaky folks, I need help quick. According to several posts on this forum the Money Factor should be about .00255. My Lexus dealerships (one in Lexington and one in Louisville) have given me a .00325. Can somebody please tell me if this is legit??? That converts to 7.75% versus 6.12%. What should I do. The difference in MF equals about $50/mo and I won't do that.Can anybody shed some light on this for me????????????

If I were you I would tell them you are willing to let them profit on the vehicle and not on the financing. If they won't give you the buy rate, you're certain one of the other dealerships in the city/state/region/country will. No one says you have to buy the car from them.